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The Economic Times
The Economic Times
Business
Surbhi Khanna

Gold, silver ETFs tumble up to 7% as US-Iran tensions and inflation fears hit sentiment. Time to buy the dip?

Gold silver ETF United States Inflation Iran Oil

Gold and silver ETFs tumbled up to 7% on Thursday after gold and silver prices opened sharply lower on the Multi-Commodity Exchange (MCX). Sentiment turned cautious amid escalating tensions in the Middle East and a spike in crude oil prices following fresh US strikes on Iran.

SBI Gold ETF fell the most by 7% to hit the day’s low of Rs 116.32 against previous day's close of Rs 125. This was followed by Nippon India ETF Gold BEeS, Tata Gold ETF, HDFC Gold ETF, and Kotak Gold ETF, which were down 6% each. The other 16 gold ETFs slipped between 1% to 5%.

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